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Thread: insurance

  1. #1
    Senior Member chachee52's Avatar
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    insurance

    Ok, so this is the year that I really get my car into where it should be. I have been a little crazy since I bought the car and have it insured as a second car through my normal insurance. Now that I drive it more and I am really into the car more and more I think that I need to stop procrastinating and get collector car insurance for it.
    I've heard the three more popular are Hagarty, Grundy, and American Collector.
    These are the pros/cons that I have found so far:
    American: cons: they make you choose how many miles you can put on the car 3K,5K,or 7500.

    Hagarty: cons: they look at every licensed driver's record in you household and you need at least one car for each member. Just seems odd to me that if Jen gets a DUI (or something) that they can drop my coverage on the Mustang.
    Pro: no milage, can use any time just as long its not a DD

    Grundy: Pretty much the same as Haragty, but it doesn't look like it looks at household member's info.

    I do have the garage and all that stuff that they all need. And they are all about the same price per year.
    Right now, I am leaning more toward Grundy. Anyone have any info?
    Growing older but not UP

    My car now has a heater, and now has HEAT!!

  2. #2
    Senior Member 390gtconv's Avatar
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    I've had Hagerty since I finished my car ~ 10 yrs now. Happy with it. Must prove car is kept in locked building (garage). I had an appraisal done (by Larry Wheeler yrs ago) for my on sake. As long as you're not asking for crazy $$$, in reason to appraisal, they let pick the value you wanna pay on.

    Now the questions you should be asking the companies you're looking at is their policy: Stated Value or Agreed Value.
    If I've got the two correct, Agreed value I think is Hagerty, lets say your car is insured for $40K. It gets totaled or stolen, Hagerty will write you a check for $40K no questions asked!! Not so sure what others will do. If you need repair work done to car, they let you pick the shop. For an upgraded policy, if you break down somewhere they'll send a flat bed truck, not a tow truck if you choose.
    This topic covered good on the classic car forum.

  3. #3
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    I have had Haggerty for a few years and I have no complaints. But I have never needed them for anything. I have AAA for any roadside issues.

  4. #4
    Senior Member chachee52's Avatar
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    They all are agreed value, and I have AAA so I won't need the extra roadside. Pretty much they all have the same coverage for the same price.
    Its more I guess I don't like being told when I can use the car and for how long (American) and I don't like that Hagerty looks at all household members driving records. I know that these issues will probably never affect me, but this is why I don't like condos.
    Growing older but not UP

    My car now has a heater, and now has HEAT!!

  5. #5
    Administrator SVT10th's Avatar
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    I was leaning towards Grundy when I was looking. Agreed value and no silly mileage limitations. They also let you drive your car for more than just shows and parades.

    That locked permanent garage thing pisses me off though. A lot of people keep nice cars in shelters -- they could just charge a higher rate if that's the case.
    Side note: Any of you nice people know how to stick-build a small garage? How much would it cost, ya think?
    ---
    Jim

    2010 Mercedes E550
    2000 Mazda Miata Special Edition



    Sold: 2001 10th Anniversary Cobra #353
    1990 Mustang GT Convertible
    2002 Mustang GT

  6. #6
    Senior Member TorchredSVT's Avatar
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    I have had American Collectors on my cobra for about 4 years now...no issues, no complaints what so ever.

    How many miles do you really put on the car in a year? Granted I don't drive my car nearly as much as you do, but after 4 years I have never been asked to verify mileage.

    Also, I was told by my agent in the summer time there are car shows and cruise nights everywhere on any night of the week....so IF anything ever happened I could say I was on the way to a car show/cruise night.

    I pay $525 a year and included with my policy I have free flatbed towing and gas reimbursement / show reimbursement up to $150 bucks should I get a flat or have a mechanical issue and miss a show.
    -- Ian --
    2003 10th Aniv. Cobra Convertible Torch Red
    Born on 6/18/2003 / Build # 4357 / # 489 0f 10th Aniv
    1 of 369 Torch Red 10th Aniversary cars Built

  7. #7
    Senior Member Jibber's Avatar
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    I just got Hagertys this year. They like your DD's to be less than 5 years old as well. I simply called them and advised that my 2 - 2007 vehicles were in good shape and running strong. Their biggest concern on this is if my DD breaks down they were assuming that i would then start driving the Mustang everyday. I said that that would not happen.
    The whole household thing is a farce. Remember, I have a 20 year old licensed driver living at my house. I don't think it affected me in the least.
    SVT COBRA


  8. #8
    Senior Member 390gtconv's Avatar
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    Quote Originally Posted by TorchredSVT View Post

    I pay $525 a year and included with my policy I have free flatbed towing and gas reimbursement / show reimbursement up to $150 bucks should I get a flat or have a mechanical issue and miss a show.
    That price seems a little high but not sure what the driving factors are.

    I pay a ~ $400./yr, car is valued well over $60k, (number I pay to) but street value more like $80K. This is with Hagerty.

  9. #9
    Senior Member chachee52's Avatar
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    Ian, I do agree with George. That number is double what they quoted me and I put in $25K (I aimed high). I can't see your car being that much more than that, but then again I really don't know the price of your car.
    Anyway, when I first got my car I put 7K on it. it's more of the theory that I don't like people telling me that I can't drive it more. And as for the cruise nights, all of them say you can use it for personal drives not just to shows. I would NEVER agree to just to shows.
    Kevin: You saying that they ask about how old the cars are I am definitely not interested in Hagarty if that's the case. Not that I kept my cars long, but I have been thinking about keeping my cars longer and don't need the hassle of them asking me about what else I drive.
    I just want an insurance for my mustang, they shouldn't need to know about my other cars if I am within the limits of everything else they want.
    Growing older but not UP

    My car now has a heater, and now has HEAT!!

  10. #10
    Senior Member 390gtconv's Avatar
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    Just a thought, all these discussions with whichever on do's & don'ts or how old cars are. But once you sign up with whomever, at least for me with Hagerty, they have never asked again.
    Todd, have you talked to either Grundy or Hagerty on the phone to asked specific questions ie mileage, when can or not be driven rather than listen to us tell what might be old info? That's your best bet so you don't assume one does it this way, other does it that way.

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